Emerald Waters
Condos for Sale in Miramar Beach, FL
All 680 homes for sale in Miramar Beach, FL · median $659,000 · Walton County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via Emerald Coast MLS
As of October 2026, Emerald Waters in Miramar Beach, FL has 2 homes for sale. Homes listed or recently sold were built 2002–2002; none of the 3 geocoded homes sit in a FEMA special flood hazard zone (median elevation 27 ft).
Homes For Sale Right Now in Emerald Waters
Live MLS inventory for Emerald Waters. Every active listing, what is under contract right now, and the last 12 months of closed sales, refreshed twice a day. Closed comps beat an algorithm's guess every time.
Active · 11 daysTop listing
Active · 133 days
Active · 197 daysActive and pending Emerald Waters listings as of 2026-10-01, priced high to low. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Tap any home to ask about it.
Emerald Waters is a small pocket in Miramar Beach, and the current picture is thin by design: three active listings and no closings inside our window. With that little transaction data, there is no clean price story to tell here yet — condition, lot, and specific unit or home will drive number far more than any community trend, because there isn't enough closed volume to establish one.
For a buyer, that means pricing each active listing on its own merits rather than leaning on comps within the community. For a seller, it means your listing is one of very few reference points on the market right now, so presentation and pricing discipline carry outsized weight. Thin inventory cuts both ways: less direct competition, but also less proof of where value lands.
The 60-Second Overview
Emerald Waters is a compact community in the Miramar Beach area of Walton County. Right now it reads as a quiet, low-inventory market with only a handful of homes available and no recent closings to anchor value.
Emerald Coast MLS sales records identify 12 homes in EMERALD WATERS that have changed hands since 2003, built between 2002 and 2002 (median 2002), with a median living area of about 1,050 sq ft and a typical 2-bedroom, 2-bath layout; 100% are condominiums. Source: Emerald Coast MLS closed-sale history compiled by Momentum Research; counts reflect homes with a recorded MLS sale, not every home in the community.
County records show 4 qualified sales in EMERALD WATERS across 2024–2025 (3 in 2024, 1 in 2025), median $3.20M — the last recorded sale per parcel on the Florida DOR 2025 assessment roll, independent of the MLS.
Pre-construction details are compiled from public records, builder announcements and builder listings, and are subject to change without notice; figures are deemed reliable but not guaranteed. Momentum Research figures are our own analysis. This page describes homes, pricing and community attributes, not residents.
The setting & the homes.
Aerial and on-site photos of Emerald Waters. Swipe to explore the community.
Swipe or use the arrows → tap any photo to enlarge
Emerald WatersEmerald WatersEmerald WatersPhotos from Emerald Coast MLS listings in Emerald Waters; content deemed reliable but not guaranteed.
Who Emerald Waters is best for.
Best for
- Buyers who want a Miramar Beach location and can assess a home independent of community comps
- Purchasers prepared to underwrite value on condition and lot rather than trend data
- Sellers who can price with discipline while inventory is scarce
Probably not for
- Buyers who rely on abundant recent sales to validate an offer
- Those specifically seeking shared community amenities, none of which surface in current listings
- Buyers wanting a large selection of active homes to compare
The market around Emerald Waters
Emerald Waters is too small for its own price trend, so here is the market around it.
In ZIP 32541, 720 homes are on the market and 13% are under contract — a slower corner of Miramar Beach.
Across Walton County, 3,174 homes are active and 698 pending (18% under contract).
In ZIP 32541 (Miramar Beach), 790 homes closed in the last 12 months at a median of $730K ($199/sq ft), down 1.9% year over year, with a median 96 days on market. Right now 488 active and 65 pending listings put supply at about 9.0 months — a soft market. See the live ZIP 32541 housing market and the Okaloosa County market.
ZIP and county figures describe the wider market, not Emerald Waters specifically. Momentum Research analysis of MLS records.
Housing distress & ownership in EMERALD WATERS, Miramar Beach
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Listing data provided by the Emerald Coast Association of REALTORS®. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
Emerald Waters on the map.
Every active, pending, and recently sold home, plotted. Toggle the layers and tap a home for the details.
Listing locations from Emerald Coast MLS. Map data © OpenStreetMap, tiles © CARTO.
Schools
- Walton County Public Schools
- Verify the zoned schools by address
- Magnet and choice options may be available
- Van R Butler · Elementary
- Emerald Coast · Middle
- South Walton · High
Zoned schools reflect the assignments reported on recent Emerald Waters listings and can change; always confirm with Walton County Public Schools for a specific address.
Buying with schools in mind? We can confirm the exact zoned schools for any Emerald Waters address.
Shop the zone: Homes zoned for South Walton High School
Recent Developments in Emerald Waters
Development, infrastructure, retail, and school activity affecting Emerald Waters, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated August 2026.
- July 2026Infrastructure
Scenic Walton advances underground utilities and gateway landscape projects
Scenic Walton reported progress on countywide initiatives, including a $200,000 Freeport U.S. 331 gateway landscape project supported by a $100,000 FDOT Highway Beautification Grant, plus a 30A West gateway landscape project and early planning for countywide underground utilities. Funding for the utilities study advanced into Walton County's draft budget for fiscal year 2026 to 2027.
What it may mean for the marketAdvances roadway beautification and stormwater improvements along the Freeport U.S. 331 corridor and the 30A west gateway and lays groundwork for utility resilience upgrades across Walton County. The site is about 14 miles northeast of Emerald Waters.
Source: Get The Coast - June 2026Civic
DeSantis signs state budget with funding for Okaloosa County projects
Governor DeSantis signed the state budget that included roughly $15 million for 20 Okaloosa County projects, among them $5 million for the Northwest Florida State College Workforce Innovation Center in Niceville, $1.5 million for Shalimar Bridge Park, and $3 million for Destin road and drainage work. About $7.26 million in other local requests were vetoed.
What it may mean for the marketDirects state funding toward workforce, park, road, and drainage infrastructure across Okaloosa County, supporting public facilities and capacity in Niceville, Shalimar, and Destin. The site is about 13 miles northwest of Emerald Waters.
Source: Get The Coast
Summaries reflect public reporting and official sources linked above as of the dates shown. Project details, timelines, and approvals can change. Commentary on potential market effects is general observation, not investment advice or a prediction for any specific property. For the freshest items across the whole region, see This Week in Northeast Florida.
The Emerald Waters buying strategy.
If we were buying in Emerald Waters today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Emerald Waters.
A thin-data market
The defining fact here is scarcity of data. Three active listings and zero closings in the current window mean the usual signals — days on market, sale-to-list spread, absorption rate — aren't yet meaningful. That is not a red flag on its own; it is simply a community where each transaction has to be underwritten individually.
No community amenities surfaced from current MLS listings, so buyers should evaluate this location on the strength of the Miramar Beach setting and each property's own features rather than shared facilities. If amenities matter to you, confirm exactly what a given listing conveys before assuming anything.
The location and the amenities are priced into every listing in Emerald Waters. The deal is won or lost on condition, the comps, and the renovation math.
Why work with Momentum here
In a market this thin, the value is in judgment, not dashboards. We price and negotiate each Emerald Waters listing on its own condition and location rather than a community average that doesn't yet exist, and we tell you plainly when a home's asking price outruns what the current data can support.
Emerald Waters in 15 seconds.
HOA, CDD & Fees
- HOA status not on record. Verify any dues before you offer
- Any club/amenity membership is billed separately
Confirm the current HOA dues, exactly what they cover, and any CDD bond or special assessment for a specific address before you offer.
Tools for a Emerald Waters buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Emerald Waters sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Emerald Waters, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Emerald Waters home worth?
Get a no-obligation home value based on real comparable sales in Emerald Waters, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See all homes for sale in Miramar Beach →
Recently off market in EMERALD WATERS
Homes in EMERALD WATERS that recently left the market. Each address opens its public-record profile: county-recorded value, property taxes, the last recorded sale, community sales history, and what is for sale nearby now. 1 on record.
- 1952 Scenic Gulf Drive #Unit 302 · off market
The real cost & risk here
Before the list price, the Florida math the portals skip. These are Walton County typicals — your exact home, flood zone, and insurance quote will vary, so verify each before you offer.
Check it for your address: look up your flood zone (FEMA) · insurance by county · true-cost calculator · Walton County scorecard.
County typicals from Momentum’s Florida housing data (Zillow & Realtor.com aggregates, Census, FRED), updated monthly; insurance modeled. Flood zone is property-specific — always confirm via FEMA.
11% of homes for sale in ZIP 32550 are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-10-01).
Frequently Asked Questions
How many homes are in Emerald Waters?
What share of Emerald Waters is owner-occupied?
When were the homes in Emerald Waters built?
Who is the best real estate agent for Emerald Waters?
How do I find a top Miramar Beach real estate agent who knows Emerald Waters?
Can Momentum Realty connect me with an agent for Emerald Waters?
Where is Emerald Waters, and what county is it in?
Should you buy in Emerald Waters?
An honest fit check. We will tell you when it is not your community.
Data sources & freshness
| Live listings | Emerald Coast MLS, refreshed twice daily (last: October 1, 2026) |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (1 streets, ZIP 32541/32550)) |
| Under-contract shares | Emerald Coast MLS records, as of 2026-09-20 |
| Historical depth | Closed-sale records back to 2003 (23 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of Emerald Coast MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
Own a home here?
You just read the data. Now see what your home is worth.
The numbers on this page move markets in the aggregate. The number that matters to you is what a buyer pays for your address. Momentum sells for 1.25% above the Emerald Coast MLS member average and 8 days faster, and we’ll price yours against live local comps.
Looking to buy here? Search homes for sale →
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See how EMERALD WATERS fits the bigger picture — live prices, inventory, and Momentum Scores:
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